By Reza Shafa
Around 400,000 Iranians play a major role in the United Arab Emirates economy today. Since Ahmadinejad’s ascendancy to power two years ago, the figure has doubled. The Iranians have invested billions of dollars in UAE because of fear over the feature economic uncertainties in Iran.
By Reza Shafa
Around 400,000 Iranians play a major role in the United Arab Emirates economy today. Since Ahmadinejad’s ascendancy to power two years ago, the figure has doubled. The Iranians have invested billions of dollars in UAE because of fear over the feature economic uncertainties in Iran.
The Commerce Council in UAE says that the top investors in real state industry in the Persian Golf state are Iranians. They have more than twenty percent of the market’s share.
It is interesting to know that not only Iranian investors are interested in real estate business in UAE, but also many of the Iranian officials have entered the race.
The prestigious Middle East Economic Digest (MEED) disclosed that in 2006, Iran imported ten billion dollars worth of goods from UAE. They have been first imported to the Golf state and then rerouted for their final destination Iran.
The non-oil related commerce between the two states exceeded 8 billion dollars in 2006, according to the Commerce and Industry Directorate in Dubai.
Since two new American and European universities have opened in UAE, the Iranian students are also attracted to the kingdom. Last year 12,000 Iranian students enrolled in the two schools. The figure has more than quadrupled in past three years.
UAE has become the main breathing outlet for the mullahs in terms of economic sanctions. However, the U.S. is pressuring the tiny state not to do business with the Iranian regime. The recent decision by the kingdom’s leaders not to export goods which have military use or may be used in nuclear projects to Iran is in line with the U.S. mandate.
Reza Shafa is an expert on the Iranian regime’s intelligence networks, both in Iran and abroad. He has done extensive research on VAVAK (MOIS), IRGC’s Intelligence Office, and Quds Force among others. Currently he is a contributor to NCRI website.
